Kadim (left) presents a memento to Abang Johari.
KUCHING: Sarawak’s recognition of Unified Examination Certificate (UEC) augurs well for the production of human capital needed to help Sarawak rise with a strong economy within the nation as well as in the Asean region.
In highlighting this yesterday, Housing Minister Datuk Amar Abang Johari Tun Openg said this major move showed the state government’s commitment to spearhead the development of education in the state.
“Human capital is undoubtedly the most important asset for the successful development of any economy,” he told a press conference after opening the 2nd International Conference on Contemporary Issues in Accounting and Finance (CoCIAF) 2015 at Hilton Hotel here.
He shared that members of the State Cabinet, setting aside emotions and sentiments, gave their full support to Chief Minister Datuk Patinggi Tan Sri Adenan Satem in his decision to recognise the UEC.
CoCIAF 2015 is jointly organised by Universiti Malaysia Sarawak (Unimas), Securities Industry Development Corporation (SIDC) and Malaysian Institute of Accountancy (MIA).
“Sarawak can build a strong economy with prudent management by taking into account the plus factor (natural resources), provided that we are able to grow and pool our talents,” he said, emphasising the reason for the government to demand greater autonomy in education.
Abang Johari, who is also Tourism minister, pointed out one of the strengths of Chinese school system is its great emphasis on mathematics, which is crucial for the business world.
“Relating to today’s conference, figures and data are key tools in accounting and finance. Forward-looking predictive data and analysis are thus important to aid businesses in their decision making,” he said.
Furthermore, he added, Mandarin language which has risen in usage and English remaining an essential language were important and powerful tools for political, social and economic exchanges in this increasingly globalised world.
“Language is key to engagement in the business world. Sarawak will see a brighter future if we can rise to this challenge,” he said, noting that China is now the second economic power in the world after the US.
Like other countries in the world, he added, Malaysia was facing various challenges due to the uncertain global economy.
However, he assured that the country had strong fundamentals, with its economy integrated internationally.
“Malaysia is one of the top trading nations in the world with our major trading partners including Japan, Singapore and the US. We are not relying on ourselves but also what is happening around the world,” he explained.
Looking at the current global economic development, Abang Johari foresees the importance of the BRICS (Brazil, Russia, India, China and South Africa) bloc, especially the infrastructure bank mooted by these five nations led by China.
“This bank is just like World Bank or IMF, the moment this bank is established, the Chinese Yuan will evolve and become an important currency,” he said.
Meanwhile, the three-day conference themed ‘Theory Meets Practice’ serves as an important platform for academicians, researchers, industry practitioners and policy makers to interact and exchange viewpoints and research findings on contemporary issues in Accounting and Finance.
It is attended by some 100 delegates from various countries including Iran, Japan, Indonesia, Myanmar, Bangladesh and Malaysia.
Earlier in his speech, Abang Johari emphasised that Unimas played an important role in enhancing and developing world-class training programmes to suit the needs of Sarawak’s domestic industry.
“In this respect, Unimas must develop several programmes to increase the level of expertise in the local industry. The course structure must be well received by both the students and industries,” he said.
“At the international level, Unimas must take steps to collaborate with other training institutions in other developed nations to mutually recognise the courses,” he added.
He commended the conference for presenting an excellent opportunity for participants to crystallise a common vision for the future of accounting and finance fraternity.
“Make the most of this conference to learn more about the latest issues, share your experiences and take valuable lessons home with you. With your active participation, I believe you will benefit tremendously,” he told the participants.
The conference brings together a collection of 67 research papers from various Accounting and Finance disciplines and research areas.
Altogether, there are 12 concurrent sessions arranged according to common themes pertaining to Economics, Corporate Governance, Business Management, Auditing and Earnings Management, Public Finance, Islamic Economics and Finance as well as Accounting and Finance tracks.
The opening ceremony witnessed the exchange of Memorandum of Understanding (MoU) between Unimas and Cooperative University, Thanlyin, Myanmar.
Among the activities that can be expected from this MoU are student exchange programme, academic staff exchange programme, joint research projects and consultancy and other activities of mutual interest of both parties.
Unimas vice chancellor Prof Dato Dr Mohamad Kadim Suaidi, Cooperative University of Thanlyin, Myanmar rector Prof Dr Thein Tun, Dean of Faculty of Economics and Business of Unimas Prof Dr Shazali Abu Mansor and CoCIAF 2015 organising chairman Dr Muhammad Abdullah Zaidel.